Energy Bills Increasing: Preserve Cash Flow with Finance
As you are probably already fully aware, UK energy bills are due to rise by 80%. The new cap will come into effect from 1st of October.
Therefore, as a business, you will be more than likely to be faced with larger bills this winter which can result in cash flow pressures. An option that companies could look into is short term finance, covering unexpected gaps in working capital.
With the rises due to come into affect from the 1st of October, you have some time to prepare for the increases that your business will be faced with. You can look into ways that you can save money and start the process of looking at finance options that are available.
How can finance ease cashflow pressures?
A business loan can give you an injection of working capital that you can use to ease cash flow pressures. You could use it to pay for expected larger energy bills, help with payroll, franchising or any other way that you think is best for your business.
Asset Refinance is a great way to free up cash tied up in valuable assets such as commercial property, machinery or vehicles with good resale value. How this works is that you will refinance your asset and in return, you will receive an injection of working capital and the finance company will take ownership of the asset and you will make monthly payments back to the finance company.
Invoice finance is a way of lending money based on what your customers owe your business. Rather than waiting days or weeks for your invoices to be paid by your customers, lenders advance you most of the value immediately.
Start producing your own energy
One method to decrease your energy bill is to start producing your own energy. If it’s possible, you could install solar panels, biomass boilers, heat pumps or anaerobic digesters.
Many commercial property owners and business owners have already switched to a renewable energy source because of the savings they will be making on their monthly energy bills.
Renewable energy assets can be financed therefore business owners will be able to make steps towards decreasing their energy bills, keep a healthy cash flow and pay monthly affordable instalments for a greener energy source.
If you would like to find out more about cash flow finance solutions for your business or learn more about finance for renewable energy sources, don’t hesitate to get in touch with our team. Call us on 01270 443510 or complete our contact form and we’ll be in touch as soon as possible.
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Crewe, Cheshire, CW1 6ZQ
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